Stocks moving most after hours: Salesforce, Ambarella and more
Getty Images| Getty Images
The stocks following notable trades in extended trading on Tuesday are listed below.
Salesforce — Shares of the software giant rose 6% after Salesforce issued stronger-than-expected first-quarter results. On $7.41 trillion in revenue, the company posted a 98c adjusted earnings per share. Refinitiv polled analysts expecting to earn 94c per share on $7.38billion in revenue. The outlook for the future was not mixed. Second-quarter earnings projections and sales were lower than expected.
Ambarella — The chip stock fell more than 7% after Ambarella’s revenue guidance for the second quarter came in below analyst expectations. In a press release, the CEO of Ambarella stated that Ambarella was suffering from China’s Covid wave. The first-quarter results however were more positive than we expected.
Victoria’s Secret — The apparel stock gained about 4% after Victoria’s Secret topped earnings estimates for the first quarter. Refinitiv analysts expected the company to earn an adjusted $1.11 per share in earnings. This was 27cs more than what they actually earned. The company’s revenue came in line with estimates, but the earnings guidance for second quarter was below expectations.
- HP — The hardware stock rose slightly after HP posted better-than-expected results for its fiscal second quarter. On $16.49 million in revenue, the company posted $1.08 adjusted earnings per share. Refinitiv surveyed analysts and found that they expected $1.05 per share for $16.17 billion in revenue.